Chartered Accountants
Chartered Accountants
Every company eventually needs more money to run it. This fund might be required both immediately and later. A short-term requirement can be satisfied by loans and advances. However, in the long run, it will demand more money. This can be done for a Private Limited Company by increasing the company’s authorized capital. Any changes …
procedure for increase in the authorised share capital Read More »
The Companies Act of 2013 is the law that governs each and everything regarding corporate entities. Corporate entities include one-person companies, private limited companies, subsidiary companies, holding companies, government companies, banking companies, public limited companies, limited liability partnership firms, etc. For every operation and management of these companies, a procedure has been prescribed under the Companies Act. …
A company acquires the Dormant Company status when the Registrar approves an application in Form MSC-1 of Companies. There are several reasons why a company seeks dormant status. Please refer to our detailed discussion on the procedure to convert an active company as a dormant company; click here. A company can remain dormant only for …
Nidhi Company, formed under Section 406 of the Companies Act, 2013, is a type of finance company that is formed for the mutual benefit of its members. It accepts deposits from its members and grants loans to them for different purposes. Nidhi companies must fulfill certain compliance requirements prescribed under the Companies Act, 2013, compliances …
Every LLP incorporated needs to have a principal place of business activities called the registered office. The registered office of a LLP is that to which official correspondence and all formal legal notices addressed to the LLP will be sent. The registered office of a LLP can be situated anywhere in the India. In addition …
As per Section 62(1) of the Companies act, 2013 if the Company decides to issue fresh shares, these should be offered to existing shareholders in proportion to existing persons who are holders of equity shares. ‘Right Issue’ means offering shares to existing members in proportion to their existing share holding. The object is, of course, …
Applicability of Section 62-(1) of the Companies Act, 2013 Read More »
The board of directors are can be called the brain of the company. They are responsible for taking all the big decisions and making policy changes. These decisions are taken in special meetings members of the board hold together, called ‘Board Meetings’. Section 149 of the Companies Act states that every company’s board of directors must …
Composition of the Board of Directors of a Listed company in India Read More »
Winding up a company, often referred to as liquidation, comes into play when a company faces financial difficulties and is incapable of meeting its obligations to creditors. It entails a systematic process wherein the company’s assets are liquidated to generate funds for settling its outstanding debts. After all the debts have been satisfactorily settled, any …
Charge as per section 2(16) of Companies Act, 2013 refers to creation of interest or a right on a property or asset of a company or any of its undertaking as a security against loan provided to the company in respect of such interest. Charge is created by Companies who are in need of financial …
Creation & Modification of Charge as per Companies Act, 2013 Read More »
The Director Identification Number (DIN) is a unique identification number assigned to individuals who wish to become directors of a company or designated partners in a Limited Liability Partnership (LLP) in India. The Registrar of Companies (ROC) is responsible for issuing DINs under the Companies Act 2013. However, certain circumstances allow for surrendering a DIN. In this article, we will discuss the legal …